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The tragic train accident in Balasore, Odisha, last week has brought to fore the perils of overlooking travel insurance when booking tickets on the IRCTC portal.
Insurers advise rail passengers to take accident insurance seriously since, often, it is not the cost of the cover (not prohibitive at all) but sheer indifference that prevents many from opting for it, insurance industry experts said.
All they need to do is tick the insurance box when buying tickets online.
Under the ‘Optional Travel Insurance for E-ticketing Passengers of IRCTC’ scheme, for a small premium of ₹0.35 per person, their legal heir can get a fixed amount of ₹10 lakh in the event of their unfortunate demise in a train accident. Separate amounts have been specified for cases involving permanent disability.
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It is equally important to correctly fill in the nominee details and share the insurance contract (certificate of insurance that is SMSed or mailed by the insurer) with near and dear ones, insurers advised.
The scheme features two insurers — SBI General Insurance and Liberty General Insurance, who have the mandate to issue travel insurance (accident insurance) contracts.
Insurance helpline
Meanwhile, Liberty General Insurance (LGI), a private general insurer, has launched a 24/7 helpline — +91-9324968286 —for policyholders impacted by the recent train accident at Balasore.
LGI — a joint venture between Liberty Citystate Holdings PTE Ltd, Enam Securities, and Diamond Dealtrade —provides personal accident insurance coverage to IRCTC passengers.
CEO and whole-time director Roopam Asthana said the insurer remains fully committed to providing quick claims settlement to those affected by the Balasore accident.
“We stand with our customers in their time of need and will fulfil our promise of ‘protection for the unexpected, delivered with care’. The Balasore train tragedy is unprecedented, and we are distressed by the loss of innocent lives. At Liberty General Insurance, we have implemented several extraordinary measures to ensure hassle-free claims process for our policyholders.”
Asthana said the company’s helpline is manned by a trained team of executives who will sensitively guide policyholders on their claim-related issues. A nodal officer has been appointed to oversee the process.
He said LGI was working closely with IRCTC and railway authorities to provide support and assistance in every possible way. It will proactively reach out to policyholders who travelled on the two ill-fated passenger trains, he said.
The accident has left more than 280 dead and over 1,000 injured.
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